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Ostrovok can be a powerhouse inside Russia, so it seems odd that it would focus outward considering the concern for privacy among Russian companies, even shared by some of its new funders.
Ostrovok.ru, the Russian accommodation booking startup, has announced a $12 million financing round investment led by Vaizra Capital Russia, a fund backed by Vyacheslav Mirilashvili and Lev Leviev, co-founders of Vkontakte, Russia’s largest social network.
The cash will be used to expand the service more internationally and develop the product. Previously, it had raised $38.6 million.
Last month Kirill Makharinsky, the co-founder of Ostrovok, departed the company. His co-founder Serge Faguet remains on board as CEO.